June exports up 19%, imports rise 30%

Exports increased 19.04% to $7.11 billion in June 2005, but imports rose faster at nearly 30% to $11.101 billion - widening the trade deficit to $11.459 billion in the first quarter this fiscal.

Trade deficit in the April-June quarter nearly doubled to $11.459 billion from $5.96 billion in Q1FY05 as per the latest trade data released by the government today.

Exports during the first quarter of the current fiscal moved up 19.54% to $20.9 billion as against $17.483 billion in April- June 2004-05.

Q1FY06 imports increased 38.02% to $32.360 billion from $23.445 billion. While oil imports surged 33.16% to $9.598 billion in Q1FY06 from $7.207 billion a year ago, non-oil imports jumped 40.18% to $22.761 billion from $16.237 billion in April-June 2004-05.